Ola Electric soars after foraying into Rs 1 lakh crore battery storage market

Ola Electric Mobility jumped 4.89% at Rs 55.15 after the company announced its foray into India's Rs 1 lakh crore Battery Energy Storage Systems (BESS) market with the launch of "Ola Shakti", its first residential energy storage product.

The company said the BESS market in India is expected to triple to over Rs 3 lakh crore by 2030. With this move, Ola expects its annual Gigafactory consumption for the BESS segment to scale up to 5 GWh, potentially exceeding its automotive battery consumption in the coming years.

Powered by Ola's indigenous 4680 Bharat Cells, Ola Shakti is Indias first fully designed and manufactured residential BESS, aimed at homes, farms, and small businesses. The system offers configurations from 1.5 kWh to 9.1 kWh, priced between Rs 29,999 and Rs 1,59,999 for the first 10,000 units.

Reservations for Ola Shakti opened today at Rs 999, with deliveries starting from Makar Sankranti 2026. The company said the product combines intelligent energy management, AI-based optimization, and automotive-grade safety, reflecting its core technology DNA.

Bhavish Aggarwal, chairman and managing director, said Ola Shakti marks a step toward energy independence and leverages the companys Gigafactory infrastructure and nationwide network for rapid scaling without additional investment.

Ola Electric Mobility is a leading Indian electric vehicle (EV) manufacturer engaged in the integrated development of EV technology and components, including battery cells. Its manufacturing facility, the Ola Futurefactory in Tamil Nadu, produces EVs and key components and is positioned as one of Indias major EV hubs.

The companys consolidated net loss narrowed to Rs 428 crore in Q1 FY26 as against net loss of Rs 870 crore in Q4 FY25. Revenue from operations jumped 35.52% QoQ to Rs 828 crore in Q1 FY26.

Powered by Capital Market - Live News